PUNE, India — According to an upcoming report from Transparency Market Research, the global automotive coatings market is expected to expand at a healthy compound annual growth rate of 6.28% from 2018 to 2026.
According to the study, the global automotive coatings market is likely to grow at a healthy rate in the upcoming years. Rising disposable income is paving the way for customers to look for attractive colors, and they do not mind paying to improve aesthetics. This trend could help to drive the expansion of the global automotive coatings market during the forecast period.
On the basis of technology, the global automotive coatings market is segmented into solventborne, waterborne, UV cured and powder. Among these, the study predicts that water-based technology will lead growth in the market, attributable to its environmentally friendly properties.
In term of demand for vehicles, Asia-Pacific is anticipated to dominate the global automotive coatings market. The growth in this region can be attributed to fast-paced urbanization and rising disposable income among the population.
North America and Europe are hubs of automotive manufacturing and are expected play an important role in the global automotive coatings market over the forecast period.
For additional information about the report, visit https://www.transparencymarketresearch.com/automotive-coatings-market.html.